LCD TV leader Sharp has reported big gains in both sales and income for its first fiscal quarter, which ended June 30.
Consolidated net sales were up 12.6 percent at 693.7 billion yen. Net operating profit was 40.4 billion yen, and net income of 23.8 billion yen. Sales of AV and LCD products were up 24.1 percent.
In a statement the company said that sales of its LCD TVs were 117.5 billion yen, 1.4 times the same period in the last year. “In the first quarter of this fiscal year, sales of large-screen models continued their strong growth performance. The percentage of unit sales for models 30 inches and larger was 32 percent during the first quarter of last year; that increased to 45 percent in the same quarter this fiscal year.”
The company admits that the price of its LCDs collapsed by 30 percent year-on-year, but the growing sales of larger screen models kept the brand’s average selling price (aka ASP) up.